Title
Consider/Discuss/Act on a Resolution Authorizing the Sale of Three Tracts of Land Totaling Approximately 18.7301 Acres of Land as More Particularly Described Hereinafter, Consisting of Approximately 17.8419 Acres of Land Located on the South Side of US 380 East of Its Intersection with Lake Forest Drive (Tract I), Approximately 0.1879 Acres of Land Located on the North Side of US 380 East of Its Intersection with Stonebridge Drive (Tract II), and Approximately 0.7003 Acres of Land Located on the North Side of US 380 East of Its Intersection with Stonebridge Drive (Tract III) to the State of Texas for the Construction of its 380 Bypass Project; and Authorizing the City Manager to Execute Deeds and Documents Regarding the Sale of Said City-Owned Property to the State of Texas
Summary
COUNCIL GOAL: Operational Excellence
(2B: Balance available resources to accommodate the growth and maintenance needs of the city)
MEETING DATE: May 21, 2024
DEPARTMENT: Development Services/Engineering
CONTACT: Gary Graham, PE, PTOE, Director of Engineering
Todd Wright, Real Estate Acquisitions Administrator
RECOMMENDED CITY COUNCIL ACTION:
* Approval of Resolution.
ITEM SUMMARY:
* This item authorizes the sale, at fair market value, of three parcels of land totaling approximately 18.7301 Acres to the State of Texas for use as Right-of-Way (ROW) in the construction of a portion of the 380 Bypass from Ridge Road West to Coit Road (the "Project"), and further authorizes the City Manager to execute all necessary deeds and documents for the sale of said property.
BACKGROUND INFORMATION:
* TxDOT is currently planning for the construction of the Project and acquiring ROW necessary for the Project. Construction is tentatively scheduled to begin in 2026.
* TxDOT finds it necessary to acquire three parcels of City-owned land for use as ROW which are identified in the Ordinance as Exhibit A Tract I, Exhibit A Tract II, and Exhibit A Tract III.
* TxDOT submitted an appraisal...
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